Rental report highlights two-tier national market

Weekly rents have risen in half the nation’s capitals, with Sydney seeing the largest gains.

Weekly rents have risen in half the nation’s capitals, with Sydney seeing the largest gains.

A new report from SQM Research has shown that weekly rents have dropped in Canberra, Hobart, Darwin and Perth.

Across the country, weekly rent for houses measured at $505 in November, up 3 per cent on the previous year, while units rose 2.8 per cent to $345 over the same period.

In Sydney weekly rent for houses rose 13.6 per cent to $1,140, and units climbed 11.8 per cent to $637.

In Melbourne weekly rent for houses climbed 9.2 per cent to $710, and units rose 2.3 per cent $437, while Brisbane’s weekly rent for houses climbed 5.8 per cent to $582, and units rose 2 per cent to $378.

In Adelaide weekly rent for houses rose 1.2 per cent to $493, and units climbed 0.4 per cent to $296.

In Canberra weekly rent for houses went down 1.9 per cent to $626, while units rose 1 per cent to $378.

Hobart’s weekly rent for houses dipped 0.4 per cent to $386, and unit dropped 5.2 per cent to $242, while Darwin's weekly rent for houses fell 3.6 per cent to $656, and units dropped 7.1 per cent $460.

Perth’s weekly rent for houses fell 5.9 per cent to $720, and units dropped 1.3 per cent to $446.